Most Michigan people in the Real Estate business and, especially the Farming Industry strongly believes that the death tax should be completely and permanently repealed in order to make the tax code more fair and simpler, and to eliminate the harmful drag this Death Tax has on the economy.
The Death Tax punishes the American values of saving and investment by penalizing individuals for saving, investing, and building successful farms and businesses. A full 55% of people’s entire gains will be extracted from the production of goods and services as a result of this over reaching and anti-capitalist agenda.
The Death Tax is a Tax on American Values.
The Death Tax Punishes:
• Family farmers who wish to leave a legacy.
• Investment in capital improvements
The Death Tax is Anti-Job.
The Death Tax is a leading cause of dissolution for most small businesses and family farms.
When a farm or business is taxed at such a rate, it is so burdensome that most are forced to close and employees lose their jobs.
The Death Tax collects little revenue.
Death Tax revenue amounts to only 1.5% of federal revenue.
According to the Cato Institute, compliance with the Death Tax costs the economy more than the Treasury collects.
The Death Tax is unfair.
Americans overwhelmingly agree it is wrong to tax property and earnings that have already been taxed before. Double dipping is CLEARLY a redistributionist tactic.
A McLaughlin & Associates poll released on March 9, 2001 revealed that 90 percent of senior citizens feel it is wrong to tax earnings both when they are earned and again upon death.
Double taxing with a Death Tax and taking property and assets which an ENTIRE generation strove to accumulate is, morally wrong. It is a tactic which is essentially a “Robin hood” maneuver perpetrated by the shameless anti-capitalist Obama administration.
This set of laws takes the work and of its citizens and gives it to the government. Where will people sense a reward in good old fashioned hard work and production? Why would anyone want to strive and achieve in full knowledge that their hard work and toil will eventually be handed over to Big Government through a burdensome Death Tax?
Tell your senators and representatives that YOU DEMAND they REPEAL this punishing Death Tax immediately!
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